Nasdaq books 1.3% weekly advance

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Trade-war tensions exact a nearly 90-point toll from the Dow industrials in afternoon trade

The Dow Jones Industrial Average Friday afternoon was being driven lower on the back of intensifying trade-war fears that pushed some of the blue chip’s components most sensitive to tariff tensions. The Dow Jones Industrial Average , most recently, was down 207 points, or 0.8%, at 24,967, with shares of Dow components Boeing Co. , 3M Co. , and Caterpillar Inc. , the companies that tend to see the biggest price moves amid rising tensions around trade, were combining to drag the price-weighted benchmark down by 88-points. The slump comes afteron Friday after President Donald Trump earlier in the day announced tariffs on $50 billion worth of Chinese imports and Beijing’s Commerce Ministry said it would immediately launch tariffs on U.S. goods in “equal scale and equal strength.” Meanwhile, the S&P 500 index was down 0.4% at 2,772, while the Nasdaq Composite Index receded by 0.2% at 7,742.

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